JMDFC Approves Seven Student Hostels and Interest-Free Loans for Women in Maharashtra
The Board of Directors of the Jain Minority Development Finance Corporation (JMDFC), under the Government of Maharashtra, has approved the establishment of seven student hostels across the state and a new interest-free loan scheme for women entrepreneurs. The decisions were finalized during the corporation’s fourth Board meeting, which was chaired by Lalit Gandhi in Mumbai on Friday.
The newly approved hostels will be set up in Mumbai, Pune, Navi Mumbai, Nashik, Nagpur, Chhatrapati Sambhajinagar, and Kolhapur. According to the corporation, these residential facilities are aimed at improving access to higher education for Jain students who relocate to these major urban centers for their studies.
In a bid to support women's self-employment and boost cottage industries, the Board approved the implementation of an interest-free loan scheme. Under this program, women entrepreneurs can apply for interest-free loans ranging from ₹10,000 to ₹1 lakh. The corporation expects to start accepting applications for this financial assistance program within the next fortnight.
Beyond the hostels and women's loans, the Board cleared several other key frameworks and development schemes. These include a revised framework for existing loan and interest subsidy schemes, the Vihardham Development Scheme, and the Pathshala Modernisation and Empowerment Scheme. Additionally, the Board approved a time-bound action plan to develop a Marathi Jain Literature Encyclopaedia.
Chairman Lalit Gandhi stated that the corporation will launch a major outreach campaign in collaboration with the state skill development and industries departments. This initiative is designed to improve employment and skill training opportunities for Jain youth. The outreach will leverage existing government programs, including the Chief Minister Employment Generation Programme (CMEGP) and various entrepreneurship schemes.
Furthermore, the corporation plans to collaborate with the women and child development department to support women's self-help groups. During Friday's meeting, the Board also reviewed the ongoing progress of financial assistance received from the National Minorities Development and Finance Corporation (NMDFC).
